King ‘eliminated’ fears of Chinese investor during visit — envoy

AMMAN — Chinese Ambassador to Jordan Gao Yusheng on Wednesday described His Majesty King Abdullah’s visit to China as historical and widened the horizons of bilateral relations.

His Majesty and Chinese President Xi Jinping signed a joint statement and announced the creation of strategic relations, Yusheng noted, adding that the statement stipulates comprehensive cooperation and coordination in the political, economic and military fields.

Yusheng said His Majesty’s visit as a guest of honour at the 2015 China-Arab States Expo allowed the Chinese, particularly business people, to realise the attractive investment environment the Kingdom offers, as well as the secure and stable conditions prevailing in the country.

Moreover, he said King Abdullah promoted the country as a tourist destination, eliminating the fears Chinese people had about Jordan being in the midst of a region full of conflict.

The ambassador said Jordan needs to attract foreign investments through business-friendly laws such as the Investment Law, noting the most significant initiatives China offered included building “the economic belt of the Silk Road”, and the Asian Infrastructure Investment Bank, of which Jordan is a member.

Yusheng referred to the agreements signed during His Majesty’s visit and the projects to be implemented under them, including a $1.6 billion agreement for energy projects and a finance contract for a station that generates electricity from oil shale.

China supports Jordan’s efforts to help find a comprehensive and just solution to the Palestinian cause, Yusheng said, and he commended Jordan for hosting a “huge number” of Syrian refugees.

On Tuesday, in Beijing, an economic forum was organised by the Jordan Investment Commission (JIC) in cooperation with the Jordanian embassy in the Chinese capital, attended by representatives of Jordanian economic institutions and 150 business people representing Chinese industrial companies.

The forum aimed at highlighting investment opportunities in Jordan and  advantages in regard to customs and tax exemptions, and the agreements signed with Arab and international countries that could allow Chinese products to enter “huge” European and US markets.

JIC President Montaser Oqlah said signing of the strategic partnership contributes to achieving actual economic integration between Jordan and China.

Oqlah said, “We realise that Chinese exports suffer from customs and other obstacles, and therefore China will not be able to preserve the growth rate it has achieved unless its companies benefit from the advantages and incentives that enable it to increase its competitive industrial competence.”

Moreover, he said Jordan can help China achieve that end by enabling it to export its products to international markets like Europe and the US, thanks to FTA agreements Jordan has signed with these countries.